The marketing industry is an ever-evolving and dynamic function, especially in India, where the industry faces various complexities of cost, language, geography, and much more. In 2022, the marketing and advertising industry saw widespread digital transformation and evolution, with mobile driving the lion’s share of it. Despite the current macroeconomic outlook for 2023, mobile advertising spends are expected to grow by almost 20%.
Given this precipice that we seem to be staring at when entering 2023, here are the top trends to look at –
Walking the KPI Tightrope: Both brands and advertising platforms will be scrutinizing spends critically as goals will be ambitious and the expected ROI, steeper. According to a recent report by the World Federation of Advertisers (WFA), and Ebiquity, 35% of the surveyed brands will increase their budgets in 2023. Given the positive advertiser sentiment, I expect brands to remain bullish with their marketing, while walking the tightrope of ROAS.
Keeping Pace With Innovation: The pandemic saw the meteoric rise of newer digital platforms because of epoch shifts in consumer behavior. Some of these shifts, such as the need for seamless experiences and instant gratification, have resulted in sustained changes even after the pandemic. This has led to the emergence of the ‘one-click consumer.’
Over the past couple of years, connected consumers across India have experienced the transformation of their lock screen into a smart surface that delivers rich and relevant experiences with Glance.
Today, millions of lock screen users discover and engage with content seamlessly – be it news, sports, entertainment, gaming, or LIVE content, Indians are getting it all at just one click, without even unlocking their phones. These personalised experiences are tailored to engage consumers depending on where they are on the “intent to inspiration spectrum” in their daily journey. In 2022, lock screen content consumption grew by 35%, while daily active and engaged users shot up by 13% and 75% respectively. With such fundamental changes in consumer behavior, it is imperative for brands to keep pace with new platforms that own consumer attention and engagement.
Adopting Lock Screen Marketing: The last two decades witnessed a drastic transformation of the brand-consumer landscape, thanks to the Internet. We have all seen how Search, Social, and Video technologies have made a mark in the marketing industry. 2023 will have brands looking to drive ‘One-click Discovery’ of their content via the lock screen, i.e., deploying Lock Screen Marketing in their marketing, creative, and media strategy. Be it building awareness, driving consideration, or acquiring new customers, lock screen marketing will be the go-to channel for brands.
Focusing on Data and identity: Last but not the least, brands will have the next 12-18 months to prepare themselves for a cookie-less world. While the ecosystem has worked its way out of the deprecation of the advertising identifier by Apple, it’s a long way to go in the Android landscape. Additionally, there are global and regional regulations fast emerging in this regard and brands will be on tenterhooks to ensure compliance with the various data laws. But that doesn’t mean the end of the road. As we have seen with the implementation of the Apple Tracking Transparency framework, brands will continue to identify newer ways of being relevant to their consumers, personalize experiences, and be more engaging through privacy-first advertising.
In conclusion, brands and marketers will need to adapt and look towards new platforms in order to effectively connect and engage with consumers. By embracing innovation, brands can stay ahead of the curve in the fast-paced digital world of 2023.